March 17, 2015: India-based firm, Welspun Renewables Energy Pvt Ltd, has received a power purchase agreement (PPA) for the output of a set 100MW solar park in Tamil Nadu.
Welspun Renewables Energy signed the agreement with the Tamil Nadu Generation and Distribution Corporation (Tangedco), reported the Hindu Business Line. Under the agreement, Tangedco will purchase the electricity produced at the rate of Rs 7.01 per kWh.
The deadline set for Welspun Renewables to complete this project is September. The company was among the developers who were given a total of 146MW of solar PPAs. GRT and SSNR Power, a domestic jewellery group, were awarded a PPA for 15MW and 10MW of capacity, respectively.
Welspun Renewables has also revealed a plan of developing 8600MW of solar and 2341MW of wind power projects in India to achieve the renewable power capacity target. India’s aim is to add 100GW of solar capacity by 2022.
